Chapter 6 Cash Purchases.

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Presentation transcript:

Chapter 6 Cash Purchases

6-1 Sales Tax Vocabulary Formula Sales Tax Sales Tax is usually a percent and is different from state to state Formula Sales Tax = Total Selling Price x Sales Tax Rate

6-1 Sales Tax Example 1: Aleta bought a cell phone for $199.95 and a phone case for $19.95. What is the total sales tax if she lives in Austin, Texas, where the state tax is 6.25% and the city tax is 2.00%? STEP 1: Find the total selling price. STEP 2: Find the sales tax.

6-1 Sales Tax Example 2: Brenda purchases a vacuum cleaner for $299.99. She lives in Wisconsin, where the sales tax is 5%. Find the sales tax. Example 3: Mikiko purchases a photo printer for $399.99 and a package of photo paper for $24.99. What is the total selling price? What is the sales tax on her purchases in Hawaii where the sales tax is 4%?

6-2 Total Purchase Price Vocabulary Formulas Sales Receipt Sales Tax = Total Selling Price x Sales Tax Rate Total Purchase Price = Total Selling Price + Sales Tax

6-2 Total Purchase Price Example 1: A store in Madison, Wisconsin, advertised a smoke alarm for $24.95 and a fire extinguisher for $39.95. What is the sales tax if the combined state and city rate is 6%? What is the total purchase price? STEP 1: Find the total selling price. STEP 2: Find the sales tax. STEP 3: Find the total purchase price.

6-2 Total Purchase Price Example 2: Mike Gustweller, a logger, purchases the items listed on the sales receipt from Verl’s Say Shop. He checks the information on the receipt. The sales tax rate is 5%. What is the total selling price?

6-2 Total Purchase Price Example 3: Whitney purchases a 36-inch color TV for $756 and a DVD player for $222. What is the sales tax if the combined state and city rates is 4.75% and 3.25%? What is the total purchase price?

6-3 Unit Pricing Vocabulary Formula Unit Pricing Unit Price = Price per Item / Measure or Count

6-3 Unit Pricing Example 1: Shane purchased a 34.5 ounce can of coffee for $3.99, a 2-liter bottle of cleaner for $3.98, and a dozen oranges for $3.96. What is the unit price of the items to the nearest tenth of a cent? STEP: Find the Unit Price Coffee: Cleaner: Oranges:

6-3 Unit Pricing Example 2: A 53- ounce container of powdered ice tea mix costs $4.39. Find the unit price per ounce rounded to the nearest cent. Example 3: Trash bags sell for $5.39. The box contains 42 trash bags. What is the unit price per trash bag?

6-4 Comparison shopping Comparing prices on goods to decided which product is the better buy Formula Unit Price =

6-4 Comparison shopping Example 1: Oatmeal is sold in 3 sizes. The price of an 18-ounce package is $1.86. The price of a 42-ounce package is $3.17. The price of a 112-ounce package is $6.29. Based on price alone, which package is the best buy? STEP 1: Find the unit price for each item. 18-ounce package 42-ounce package 112-ounce package STEP 2: Find the best buy. Compare: Best buy

6-5 Coupons and rebates Vocabulary: Formula: Coupons Rebates Final Price = Total Selling Price – Total Savings

6-5 Coupons and rebates Example 1: Gus purchased a heavy-duty nailer for $249.00 and a compressor for $349.00. He had a coupon for $50 off. What is the final price of the items? STEP: Find the Final Price.

6-5 Coupons and rebates Example 2: An air hockey table costs $349 at your local sporting goods store. You have a store coupon for $50 off any purchase of $200. What is the final price of the air hockey table? Example 3: A can of shaving cream costs $2.19. You have a coupon for $0.50 off. What is the final price?

6-6 Markdown Vocabulary: Formula: Markdown Markdown rate Markdown = Regular Selling Price – Sale Price Markdown = Regular Selling Price x Markdown Rate

6-6 Markdown Example 1: Nora purchased a camcorder at a sale price of $499.99. The regular selling price is $549.99. What was the markdown? STEP: Find the markdown. Example 2: Furniture World has a special on oak furniture at 40% to 55% off the regular selling price. Chad purchased an oak table at 40% off the regulars price of $799. How much is the markdown?

6-7 Sale Price Vocabulary Formulas: Sale Price Sale Price = Regular Selling Price – Markdown Sale Price = Percent Paid x Regular Selling Price (If you use the second formula you need to know how much you are paying for an item.) Percent Paid = 100% - Percent Off

6-7 Sale Price Example 1:Debrelee has a 25% off coupon and is purchasing a watch that has a regular price of $125. What is the sale price for the watch? What is the sale price using the percent paid method? STEP 1: Find the markdown. STEP 2: Find the sale price. STEP 3: Find the percent paid. STEP 4: Find the sale price.

6-7 Sale Price Example 2: a set of queen-size mattresses that regularly sells for $900 is on sale for 30% off. Find the sale price. Example 3: a 241-piece set of mechanic’s tools sells for $225. The markdown rate is 40%. What is the sale price?